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Are Medical Stocks Lagging Arcutis Biotherapeutics (ARQT) This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Arcutis Biotherapeutics, Inc. (ARQT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Arcutis Biotherapeutics, Inc. is one of 1046 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Arcutis Biotherapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARQT's full-year earnings has moved 35.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ARQT has returned about 168.1% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 2.9% on average. As we can see, Arcutis Biotherapeutics, Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, Canopy Growth Corporation (CGC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 68.1%.
For Canopy Growth Corporation, the consensus EPS estimate for the current year has increased 36.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 505 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have lost about 5.3% so far this year, so ARQT is performing better this group in terms of year-to-date returns.
In contrast, Canopy Growth Corporation falls under the Medical - Products industry. Currently, this industry has 91 stocks and is ranked #100. Since the beginning of the year, the industry has moved +2.6%.
Arcutis Biotherapeutics, Inc. and Canopy Growth Corporation could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Are Medical Stocks Lagging Arcutis Biotherapeutics (ARQT) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Arcutis Biotherapeutics, Inc. (ARQT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Arcutis Biotherapeutics, Inc. is one of 1046 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Arcutis Biotherapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ARQT's full-year earnings has moved 35.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ARQT has returned about 168.1% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 2.9% on average. As we can see, Arcutis Biotherapeutics, Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, Canopy Growth Corporation (CGC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 68.1%.
For Canopy Growth Corporation, the consensus EPS estimate for the current year has increased 36.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 505 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have lost about 5.3% so far this year, so ARQT is performing better this group in terms of year-to-date returns.
In contrast, Canopy Growth Corporation falls under the Medical - Products industry. Currently, this industry has 91 stocks and is ranked #100. Since the beginning of the year, the industry has moved +2.6%.
Arcutis Biotherapeutics, Inc. and Canopy Growth Corporation could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.